Lukoil has faced a pandemic fallout as well as a weaker rouble, which has inflated its debt.
German oil and gas company Wintershall Dea said Nov. 23 the low commodity prices caused by the coronavirus crisis had hit its third-quarter results, but that sustainably lower operating costs and higher output would help long-term.
The $11 billion Nord Stream 2, led by Russia's state energy company Gazprom, would double its existing pipeline capacity to take gas undersea to Europe via Germany.
Novak will continue to oversee energy strategy.
OPEC and Russia imposed a record oil output cut in April to support prices as the COVID-19 pandemic shrank demand. They are considering further steps as the global number of coronavirus cases is rising sharply.
The comments made by Russian President Vladimir Putin are the clearest signal yet from Russia, a global leader in oil production, that it is ready to continue with unprecedented output cuts in the face of a sluggish oil market.
Pompeo set to submit a report to Congress.
A second government source said Russia, for now, would not disclose its plans on whether to continue with the current oil output cuts in order to prevent an overreaction in the market.